Sustaining employee empowerment in tough times Business training on ESOP roles and big-picture thinking In a year when all businesses were facing uncertainty, Hatco Corporation was certain that sustaining employee empowerment and expanding business knowledge was an important part of its continued success. “We want [...]
You probably made a significant financial investment in your ESOP plan last year. If you’re not integrating the annual ESOP statement into your communication and education process, then you’re missing an opportunity to capitalize on that investment. When statements get distributed, your employees become interested [...]
A wall of employee owners’ caricatures greets EBO Group visitors. When a person becomes an ESOP participant they are added to the wall of colorful, framed drawings-- illustrating the company’s commitment to Excellence By Owners (EBO). Of course in the time before someone is [...]
The old cliché states that there is no “i" in team. But if your company wants to develop an effective ESOP Committee, it’s time to put some “i’s” in there. Contrary to the spelling rules of modern English, there are six i’s in a successful [...]
If you want people to think and act like owners, they need to understand three things: 1) the big picture of the business; 2) the impact their jobs have on performance; and 3) how the ESOP benefits them. Unfortunately, most people don’t understand any of [...]
An earlier version of this article written by Cathy Ivancic originally ran in the March 2013 ESOP Report newsletter, the newsletter of The ESOP Association. Reprinted with permission from The ESOP Association. “I’m an owner now so I have a right to. . .” If [...]
Putting on a new hat can mean trouble. In AMC’s hit television series, Breaking Bad, the lead character, Walter White, dons a black pork pie hat and transforms into the evil, criminal genius Heisenburg. Even though you are not on the road to becoming a drug kingpin nor are you intending to do 'bad,' wearing multiple hats can create issues for ESOP fiduciaries. In fact, wearing more than one of the following hats can present challenges for ESOP company leaders... Click Here to read the entire article.
Are you looking for ways to make an annual ESOP meeting more engaging and educational? Many ESOP companies hold meetings when the required ESOP participant statements have been prepared. If you’ve been running that meeting for a few years, you know that keeping it fresh is very important for it to be meaningful. Providing a routine review of the statement or plan provisions may be a recipe for boring the more tenured employees and confusing the newbies. If your real goal is to connect what people do each day with the rewards on that ESOP statement, you may want to consider the benefits of Workplace Development’s custom Line-Of-Sight ESOP Sessions for your company meeting... Click Here to read the entire article.
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